Lottery news from http://www.news.com.au/
A BRITISH lottery winner has settled out of court with the sister he sued over a luxury Gold Coast home bought with his $16-million prizemoney.
Clyde Reginald Baxter, of Currumbin on the Gold Coast, had sued his only sister Virginia Baxter, of Surfers Paradise, in the Supreme Court in Brisbane over the home bought in her name for $1.3 million in 2000.
Mr Baxter, 35, claimed he bought the house with the intention of them both renovating and selling it, but his 37-year-old sister claimed it was bought as a gift to her.
Lawyers said today the pair had settled out of court but no details were available.
The civil trial heard that the renovated canal-front Surfers Paradise mansion in dispute was valued at $5 million earlier this year.
When the newly married Mr Baxter confronted his sister in 2004, wanting her to sell it as they had planned to halve the profits, she allegedly told him the house was hers as she was living there.
In the court action Mr Baxter was seeking half of the amount the house would have been worth at the time in early to mid-2004 when he wanted it sold.
Mr Baxter, originally a butcher from Leicester in England, shot to riches when he won £6.75 million ($16.45 million) in Britain's National Lottery in April, 1999.
His sister, to whom he was once very close, was the first person he rang when he found out the good news.
Mr Baxter, the youngest of five children, recounted in court how he often took his sister's advice.
In 1996, he inherited a butcher's shop, a flat, a house and £200,000 from the estate of his employer and at Virginia's suggestion they bought three properties in the UK and renovated them for profit, before the lottery win.
Following the lottery win, Mr Baxter gave his father £1 million and his sister, at her suggestion, £500,000. On her advice he gave one of his brothers £75,000. Two other brothers received nothing.
During the trial Mr Baxter testified that on a regular basis, starting about a month after the lottery win, Virginia would start to mention that she should have really been given a million pounds.
In August 2000 the pair came out to visit their parents, who were living on the Gold Coast, and decided to buy a house together to live in and renovate.
Mr Baxter said his sister talked him into buying the home in Naples Avenue, Surfers Paradise, although he had preferred other places.
He testified the $1.3-million home was always going to be in his name, but his sister had told him that he could not buy a property for renovation with his business visa.
He said his sister had told him the real estate agent had advised that he could only "buy new property" in his name because of his business visa and that the house would have to be purchased in her name because she was a permanent resident.
|
|
